§ 20133 Actuarial Valuation Requirements

• •Every few years, a math expert checks how many people are dying, working, and getting paid in a retirement system.
• •They also check how much money the retirement system has and owes.
• •The expert figures out how much interest the retirement money is making after paying for running the system.

Imagine a big piggy bank for teachers' retirement money.

Every 4 years, someone counts how many teachers are working, retiring, or passing away. They also check how much money is in the piggy bank and how much is owed to teachers. Then, they see how much extra money the piggy bank made from interest, after paying for things like office supplies.